The combined crude oil requirement of BPCL refineries is approximately 40 MMTPA. Of this, around 10% is sourced indigenously, while the balance is met through imports.

The Crude Oil Trading Desk of BPCL’s International Trade and Risk Management Department manages these imports, both on FOB and Delivered basis, to ensure timely availability in line with the periodic processing requirements of the refineries.

Crude oil imports are undertaken on both term and spot basis, with due consideration to the following key factors:

• Design parameters of refinery units
• Techno-economic evaluation of various crude grades
• Refinery processing requirements aligned to demand projections for petroleum products
• Availability of preferred crude grades under term and spot arrangements

Term contracts are primarily concluded with National Oil Companies of crude oil and with other counterparties based on requirement of specific preferred crude oil grades from time to time, while spot cargoes are procured on need basis through counterparties duly registered with us